Trump Tax Plan - Will It Work?

[Bonzi]

Individuals that make less than $25,000 (and $50,000 for married couples) would pay no income taxes under Trump's plan..... possible? sensible?

Donald Trump slashes taxes for poor -- and wealthy - CNNPolitics.com

 

[rightwinger]

I would like to see the breakdown

Overall, will our wealthy pay more or less?
Overall, will the working class pay more or less?
Is there a drop in overall revenue?
Does the deficit increase

All I can see is everyone pays less and only hedge fund managers make up the difference

 

[Mac1958]

I would like to see the breakdown

Overall, will our wealthy pay more or less?
Overall, will the working class pay more or less?
Is there a drop in overall revenue?
Does the deficit increase

All I can see is everyone pays less and only hedge fund managers make up the difference

There's no way this thing can be actually judged unless and until we see the data that drives it.

Something tells me that's not gonna happen.
.

 

[rightwinger]

Donald Trump's tax plan proves he's serious about winning the White House

As for the (ludicrous) plan itself: It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, "We should do this, but make it more tremendous, more marvelous!" That's pretty much what Trump is offering. Bush would cut the top income tax rate for rich people to 28 percent, Trump to 25 percent. Bush would lower the corporate tax rate to 20 percent, Trump to 15 percent. Bush would take 15 million Americans off the income tax rolls, Trump would take off 75 million — all of whom, according to Trump, would get "a new one page form to send the IRS saying, 'I win.'" Oh, and while the Bush plan would lose $3 trillion over a decade — not counting economic feedback — Trump's might lose multiples of that. No amount of "dynamic scoring" is likely to make Trump's numbers even approach balance.

 

[CowboyTed]

So the old reduce tax and increase debt routine.

 

[rightwinger]

So the old reduce tax and increase debt routine.

This is the Republican version of "free stuff"

Vote for me and I will cut your taxes

 

[Obiwan]

Donald Trump's tax plan proves he's serious about winning the White House

As for the (ludicrous) plan itself: It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, "We should do this, but make it more tremendous, more marvelous!" That's pretty much what Trump is offering. Bush would cut the top income tax rate for rich people to 28 percent, Trump to 25 percent. Bush would lower the corporate tax rate to 20 percent, Trump to 15 percent. Bush would take 15 million Americans off the income tax rolls, Trump would take off 75 million — all of whom, according to Trump, would get "a new one page form to send the IRS saying, 'I win.'" Oh, and while the Bush plan would lose $3 trillion over a decade — not counting economic feedback — Trump's might lose multiples of that. No amount of "dynamic scoring" is likely to make Trump's numbers even approach balance.

But he can make a lot of that up by sending your precious illegals home...
The Fiscal Cost of Unlawful Immigrants and Amnesty to the U.S. Taxpayer

 

[rightwinger]

Donald Trump's tax plan proves he's serious about winning the White House

As for the (ludicrous) plan itself: It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, "We should do this, but make it more tremendous, more marvelous!" That's pretty much what Trump is offering. Bush would cut the top income tax rate for rich people to 28 percent, Trump to 25 percent. Bush would lower the corporate tax rate to 20 percent, Trump to 15 percent. Bush would take 15 million Americans off the income tax rolls, Trump would take off 75 million — all of whom, according to Trump, would get "a new one page form to send the IRS saying, 'I win.'" Oh, and while the Bush plan would lose $3 trillion over a decade — not counting economic feedback — Trump's might lose multiples of that. No amount of "dynamic scoring" is likely to make Trump's numbers even approach balance.

But he can make a lot of that up by sending your precious illegals home...
The Fiscal Cost of Unlawful Immigrants and Amnesty to the U.S. Taxpayer

What is the cost of rounding up 11 million people and sending them home?

 

[Obiwan]

Donald Trump's tax plan proves he's serious about winning the White House

As for the (ludicrous) plan itself: It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, "We should do this, but make it more tremendous, more marvelous!" That's pretty much what Trump is offering. Bush would cut the top income tax rate for rich people to 28 percent, Trump to 25 percent. Bush would lower the corporate tax rate to 20 percent, Trump to 15 percent. Bush would take 15 million Americans off the income tax rolls, Trump would take off 75 million — all of whom, according to Trump, would get "a new one page form to send the IRS saying, 'I win.'" Oh, and while the Bush plan would lose $3 trillion over a decade — not counting economic feedback — Trump's might lose multiples of that. No amount of "dynamic scoring" is likely to make Trump's numbers even approach balance.

But he can make a lot of that up by sending your precious illegals home...
The Fiscal Cost of Unlawful Immigrants and Amnesty to the U.S. Taxpayer

What is the cost of rounding up 11 million people and sending them home?

Who said anything about rounding them up???

Cut off ALL benefits, and enforce the law making it ILLEGAL for employers to hire them, and they'll self-deport or starve...

 

[rightwinger]

So much for Trump socking it to those eveil hedge fund managers

And remember how Trump made a big deal that he was going to really sock it to the hedge funds and private equity guys? Not so much, it turns out.
In his plan, Trump does indeed promise to end "the current tax treatment of carried interest for speculative partnerships that do not grow businesses or create jobs and are not risking their own capital." But what you have to understand is hedgies are paid in two ways. Typically there is a management fee equal to 2 percent of assets, which is subject to regular income tax rates as high as 40 percent. Then there is the controversial 20 percent of profits incentive, or performance fee, taxed at lower investment rates. Trump would make that performance fee subject to those higher regular income tax rates. So far, so good — at least if you are a pitchfork-carrying populist.
But Trump would also slash those regular rates to 25 percent. Even the anti-tax Americans for Tax Reform notes that the tax hike on performance fees "is fairly modest, rising from 23.8 percent today to 25 percent under the Trump plan." At the same time, managers would be paying much lower top rates, 25 percent instead of 40 percent, on their management fees. And who knows? Investment pros with really clever accountants might just end up paying that super-low 15 percent business rate.


Trump raises hedge fund fees 1.2 percent but slashes their income tax by 15 percent and says he is being tough on the wealthy?

Does he think we are stupid?

 

[rightwinger]

Donald Trump's tax plan proves he's serious about winning the White House

As for the (ludicrous) plan itself: It's as though Trump read a copy of the Jeb Bush plan, thought about it for a moment, and then tossed it at an underling, yelling, "We should do this, but make it more tremendous, more marvelous!" That's pretty much what Trump is offering. Bush would cut the top income tax rate for rich people to 28 percent, Trump to 25 percent. Bush would lower the corporate tax rate to 20 percent, Trump to 15 percent. Bush would take 15 million Americans off the income tax rolls, Trump would take off 75 million — all of whom, according to Trump, would get "a new one page form to send the IRS saying, 'I win.'" Oh, and while the Bush plan would lose $3 trillion over a decade — not counting economic feedback — Trump's might lose multiples of that. No amount of "dynamic scoring" is likely to make Trump's numbers even approach balance.

But he can make a lot of that up by sending your precious illegals home...
The Fiscal Cost of Unlawful Immigrants and Amnesty to the U.S. Taxpayer

What is the cost of rounding up 11 million people and sending them home?

Who said anything about rounding them up???

Cut off ALL benefits, and enforce the law making it ILLEGAL for employers to hire them, and they'll self-deport or starve...

On that, we are in agreement

I have not heard from Trump that he is willing to get tough with employers. I have heard him villainize illegal workers but never the employers

Put them in jail